SGG Group has acquired Iyer Practice, a family-run advisory and compliance services provider focused on Singapore and Hong Kong, as it continues to expand its global footprint.
SGG, which provides compliance, administration, asset and advisory services to alternative investment funds, international companies, international families and entrepreneurs, said that following the acquisition it would have more than 130 professionals working in its Asian business through offices in Hong Kong, Singapore, Japan and India.
Shanker Iyer, the founder and chairman of Iyer Practice, will become the executive chairman for SGG Asia.
SGG (Luxembourg) group sales and marketing director Renaud Oury recently outlined for InvestmentEurope the impact that continued regulatory and compliance developments in Europe are having on clients of the group, and the opportunities that it sees emerging out of this environment. (http://www.investmenteurope.net/magazine/IE91/#/article/26/page/1-1)
It is a sector that is fragmented among many providers currently, which also lends itself to continued M&A and consolidation by services providers, he noted.